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One person said many doors are slated to go dark before then. And a few others said even though their location could remain open until mid- to late-May, that would depend on how fast inventory in the stores is cleared out. One store associate said the company sent a letter noting that the closures were due to “financial reasons.” Word surfaced in mid-March that the Brisbane, Calif.-based chain was considering closing all stores, but would keep its online business in operation. Subsequently, Bebe said it hired B. Riley & Co. as its financial adviser and that its board was exploring strategic alternatives . The women’s specialty chain also said “there is no assurance that this process will result in any specific transaction.” It also has hired a real estate adviser to assist with options related to its lease holdings. Two summer looks from Bebe. Courtesy Photo Bebe in February 2016 underwent a restructuring that saw its chief executive officer Jim Wiggett and chief financial officer Liyuan Woo leave the company. Bebe’s founder, Manny Mashouf, returned to the fold as ceo, and Walter Parks rejoined the retailer as president, chief operating officer and interim cfo. And last year, in a further sign of financial pressure, Bebe leveraged its brand equity through a new business model via a venture with Bluestar Alliance that saw Bebe remain a public company operating the stores and its e-commerce site.
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